Morning Reads

Morning Reads





  • S&P 500 futures are 0.7% below fair value; the Nasdaq 100 futures are 0.5% below fair value; and the DJIA futures are 0.5% below fair value
    Key factors driving the futures market:A further rise in Treasury yields (2-yr at 4.51% and 10-yr at 4.10%) after Minneapolis Fed President Kashkari (FOMC voter) notes he could argue for fed funds rate to go above 4.75% if underlying or core inflation doesn't improve, according to Reuters
    Better-than-expected earnings results from Netflix (NFLX)United Airlines (UAL)ASML Holding (ASML)Procter & Gamble (PG), and Travelers (TRV)
    A bit of a breather after a strong two-day run for stocks
    The Bank of England said it will proceed with sale of gilts, starting in November as planned, but will hold off selling longer-dated gilts in 2022, according to Bloomberg
    President Biden announces release of 15 million barrels from Strategic Petroleum Reserve to be delivered in December
    UK CPI +10.1% yr/yr in September (versus 9.9% in August), reaching a 40-yr high
    Reuters poll shows strong expectation for ECB to raises rates by 75 basis points at Oct. 27 meeting
    MBA Mortgage Applications Index -4.5% wk/wk, as mortgage demand drops to lowest level since 1997, according to CNBC
    Brokerage research calls of note:Upgrades: EOG, XOM, CLR, LMT, NFLX, SITE
    WTI crude futures +1.4% to $83.97/bbl; nat gas futures -0.6% to $5.71/mmbtu; copper futures -1.0% to $3.33/lb
    2-yr note yield +7 bps to 4.51% and 10-yr note yield +10 bps to 4.10%
    Today's economic data: September Housing Starts and Building Permits at 8:30 a.m. ET; Fed's Beige Book at 2:00 p.m. ET

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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